India's economic growth being held back by bad loans: analyst
Indian banks are saddled with some of the highest levels of bad debts in the emerging markets: IMF
New Delhi
THE recent arrest of Vijay Mallya highlighted the problem of bad loans in India, but analysts say the tycoon's unpaid debts are just the tip of an iceberg that is holding back the country's economic growth.
The multimillionaire owner of a Formula One team and founder of the Kingfisher beer brand was arrested on Tuesday in Britain, where he fled a year ago after allegedly defaulting on loans from Indian state banks worth more than US$1 billion.
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